After consistent upmove over the last three weeks, domestic equities plunged to 19-month lows during the intra-week trade, before the benchmark Sensex and Nifty regained some lost ground to end at 24,934.33 and 7,601.35, respectively.
Indian stock markets joined the global bandwagon fall after China twice suspended trading set-off by 7 per cent slide in CSI 300 index triggering circuit breaker, while, a hydrogen bomb test in North Korea sparked fresh geopolitical tension in Korean Peninsula also weighed on the sentiment.
The Chinese central bank allowing yuan’s depreciation, which weakened 0.6 per cent against US dollar also spooked the investors further escalated global rout.
The Sensex resumed higher at 26,116.52 and traded between a high of 26,116.52 and low 24,825.70 before ending the week at 24,934.33, showing dip of 1,226.57 points or 4.69 per cent.
The 30-share gauge had gained 1,116.47 points, or 4.46 per cent, in the previous three weeks.
The NSE 50-share Nifty also slumped by 361.85 points or 4.54 per cent to end at 7,601.35.
Banking shares were drubbed the most during the week losing 10.69 per cent, followed by Auto 6.99 per cent, Capital Goods 6.89 per cent, Metal 4.33 per cent, HealthCare by 3.94 per cent.
Foreign portfolio investors (FPIs) sold shares net Rs 3,114.56 crore during the week as per the Sebi’s record including the provisional figure of Jan 8, 2016.
Among the 30-share Sensex pack, 28 stocks declined and two stocks rose during the week.
Major losers from the Sensex pack were Tata Motors (12.00 pct), Bhel (10.12 pct), Adani ports (9.70 pct), Maruti (9.05 pct), L&T (8.44 pct), SBI (8.21 pct), Axix Bank (7.99 pct), Lupin (7.20 pct), Hero Motoco (7.18 pct) and ICICI Bank (6.86 pct), while, Gail rose by 0.91 pct followed by Reliance 0.86 pct.
Among the S&P BSP sector and industry indices, Bankex fell by 10.69 pct followed by auto 6.99 pct, capital goods 6.89 pct, metal 4.33 pct, healthcare 3.94 pct, realty 3.78 pct, FMCG 3.74 pct, Tech 2.86 pct, Power 2.42 pct, IT 2.23 pct and oil and gas 0.29 pct.
Small-cap and mid-cap indices also declined by 2.42 pct and 2.25 pct, respectively.
The total turnover during the week on the BSE and NSE rose further to Rs 18,182.70 crore and Rs 89,534.28 crore respectively as against the last weekend’s level of Rs 13,281.81 crore and Rs 75,637.11 crore.
Forex: In line with equity market, the Indian rupee snapped 3-week gaining spree, ending lower by 49 paise to close the week at 66.63 against the American currency on fresh dollar demand from banks and importers on the back of higher dollar in the overseas amid foreign capital outflows.
Foreign portfolio investors (FPIs) pumped out USD 281.45 millions during the first four days of the week as per Sebi record.
The domestic currency resumed lower at 66.25 per dollar as against the last weekend’s level of 66.14 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 66.97 per dollar on heavy dollar demand from banks in view of sharp fall in global and domestic equity markets.
However, it recovered partially at the fag-end of the week to 66.64 per dollar before concluding at 66.63 per dollar, still showing a loss 49 paise or 0.74 per cent.
The domestic currency had gained by 74 paise or 1.11 per per cent in the previous three weeks.
The rupee moved in a range of 66.25 per dollar and 66.97 per dollar during the week.
In a surprise move, China’s central bank lowered the yuan’s value against the US dollar, sending the domestic stock markets tumbling during the week.
However, most Asian bourses rebounded on Friday from their deep oversold territory led by heavily battered Chinese stocks after authorities scrapped the circuit breaker system even as China’s central bank allowed its currency yuan to strengthen for the first time in nine days.
The US dollar regained strength against major currencies at the fag-end of the week after a brief correction ahead of this year’s first non-farm payroll data.